Al Seeb Awards $200 Million Chedi Residences Contract

Al Seeb Real Estate Development has awarded the $200 million main construction contract for The Chedi Private Residences, a 53-storey branded residential tower on Sheikh Zayed Road in Dubai.

The contract has been awarded to Ancient Builders Constructions LLC. The agreement was signed by Mahesh Kalwani, Vice Chairman of Al Seeb Real Estate Development, and Zeeshan Ali Akhtar, Managing Director of Ancient Builders Constructions.

The Chedi Private Residences is being developed by Al Seeb under licence from Chedi Hospitality and is positioned as the first standalone residential development to carry The Chedi name.

The tower will rise approximately 250 metres and comprise 117 luxury residences across around 1.25 million square feet of built-up area. The residential offering will include villas, duplexes and mansions, with select homes featuring private swimming pools and landscaped wellness decks.

The development will also include smart home and building management systems and is being designed in line with international WELL and sustainability standards.

Enabling works, including piling, shoring and excavation, are already underway. With the appointment of Ancient Builders Constructions as main contractor, the project has now moved into the main construction phase.

MBM Gulf Electromechanical has been appointed as the project’s MEP contractor, while Model Engineering Consultants is serving as Lead Engineering Consultant and Architect of Record.

Mahesh J. Kalwani said the developer took time to assemble the right project team before moving into the next stage of delivery.

“We took our time to line up the right team rather than rush into the ground. The Chedi name sets an expectation, and this tower has to meet it on every floor. The contract is signed, the site is live, and now we build to it,” he said.

Zeeshan Ali Akhtar, Managing Director of Ancient Builders Constructions, said branded residences require precision across both structure and finishes.

“A branded residence is won or lost in the detail, in the concrete as much as the finishes. Our crews are already on site. We build it to carry the name, or we don’t put our own on it,” he said.

The Chedi Private Residences was first unveiled as a luxury branded residential project on Sheikh Zayed Road, offering large-format homes, personalised services, smart living features and hospitality-led amenities. At launch, Al Seeb positioned the development as a response to growing demand for branded residences in Dubai.

The project is scheduled for completion in the first quarter of 2029.

The contract award adds another major branded residential construction milestone to Dubai’s luxury real estate pipeline, as developers continue to advance high-end projects along key central corridors.

Sources: SaudiGulf Projects, MBM Gulf Electromechanical, Gulf Construction Online